Stock Market Update.

STOCK MARKET UPDATE : ENERGY COMPANIES LIFT US STOCKS.
Major United States stock indexes surged in afternoon trading as investors cheered encouraging economic data and the latest batch of corporate deal news.Expectations that any increase in the federal reserves key interest rate this year will be gradually also helped lift the market.
 Dow Jones industrial average climbed 281 points or 1.6 percent to above 17,994. The Standard & Poor 500 index rose 24 points or 1.2 percent to 2,085. The NASDAQ  composite gained 50 points or 1 percent to 4,941.
 The commerce department said that consumer spending edged up 0.1 percent in February following two straight declines.The report suggests that the spring buying season could open strongly after sluggish sales for much of the winter.. KB Home led a broad rally among home builders. The stock rose 46 cents or three per cent to $15.74. Also, shoring up markets were remarks by Federal Reserve Chair Janet Yell en. In her speech, Yell en noted that continued improvement in the US economy means an increase in the Federals key interest rate could come later this year but would likely be gradual.
She continues to put forth the message that there will be a rate hike this year, but it will be quite measured and quite gradual going forward said Eric Davidson, chief investment officer for Wells Fargo Private Bank. "The market takes some confidence in that." The 10 sectors in the S&P 500 moved higher, with energy stocks notching the biggest gain. The sector was up 1.6 per cent. Analog Devices led all stocks in the S&P 500 climbing $5.69 or 9.7%.
 Unite health Group jumped 2.6 per cent after the nations  largest  health insurer said it would buy( Positive news) pharmacy benefits manager Catamaran Corporation shares in United Health added $3.01 while Catamaran added $11.48.
RECOMMENDATION: Buy United Health Group for long term trading.